CAMS Block Deal: Stock jumps 5% after 19% equity exchange hands
About 90 lakh shares of Computer Age Management Services exchanged hands in the block deal. The number of shares that exchanged hands amounted to 19% of the company's total equity.
Shares of Computer Age Management Services Limited (CAMS), the transaction processing and customer care service provider, opened as much as 5% higher to hit a 52-week high of ₹2,938.40 on the NSE on Monday after a large block deal took place in the stock in a pre-market trade.
About 90 lakh shares of the company exchanged hands in the block deal. The number of shares that exchanged hands amounted to 19% of the company's total equity.
The buyers and sellers in the transaction are not known yet.
For the September quarter, the company reported a net profit of ₹84 crore, which was 11% higher compared to the June quarter. Revenue also grew by 5% sequentially to ₹275 crore.
Operating profit or EBITDA also increased 11% quarter-on-quarter to ₹122 crore, while EBITDA margin expanded by over 200 basis points to 44.4% from 42.1% in June.
At 9:35 am, the scrip was trading 1% higher at ₹2,821.40 apiece on the NSE. The stock has gained nearly 30% in the last six months.
First Published: Dec 4, 2023 9:33 AM IST
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